Forex market analysis on 23.08.2023

Hello. Below are some recommendations for trading in the Forex market on 08/23/2023


We continue on EURUSD move sideways. As expected, the price went down to the level of 1.0929 and rebounded to form the Absorption pattern. The lows at 1.08333 have not been removed, we will probably do it tomorrow, the question is what to expect next. After removing the lows, I would like to see a couple of weeks of growth somewhere around 1.1070-1.1080, but how it will turn out is not yet clear. We will monitor the situation and make decisions as we go. According to the pattern, I think it is not worth considering new sales, there is a big risk that we will go under the level and come back.

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